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for being on vacation as the nation teeters on the edge of the so-called fiscal cliff. house republicans are holding a conference call from their districts that should be starting right about now we are told. steny hoyer urged them to come back to work and find a solution. >> i hope they can conclude as we have concluded and i speak for leader pelosi, myself and all of the democratic leadership that we must come back as soon as possible to work together to reach a compromise to assure that we are address the importance legislation that is still pending in this congress. a congress i believe is the least productive, most con front asianal and least compromising congress in which i have concerned and i've been here since 1981. >> that's saying a lot. at this point, it's not clear whether that conference call we mentioned with the house republicans, it's not clear whether that call meant to give members the 48-hour notice to get back to work. with five days before the spending cuts and tax hikes to take effect, we learned today that negotiators are talking. the white house says the presiden
-called fiscal cliff. something both democrats and republicans have called a worst case scenario. is temporarily going tv cliff is a best-case scenario for all parties involved? joining me now is maggie haberman. thank you for bog the show. >> thanks for having me. >> i want to play something that pat write murray said just a few days after the election from november. >> we just had an election where president obama ran on that. we increased our majority in the senate with democratic candidates who said that to solve this problem the wealthiest americans have to pay their fair share, too. so -- if the republicans will not agree with that, we will reach a point at the end of the year where all of the tax cuts expire and we will start over next year and whatever we do will be a tax cut for whatever package we put together. >> when senator murray first said that there is a lot of -- anger on the gop saying she's willing to take us over the fiscal cliff. even some democrats said it was too early to have that mindset. but it seems to be that's what a lot of democrats would now like to see so they can
that republicans are willing to take to avert the fiscal cliff. there's their 400,000. so everyone who makes $400,000 their taxes would stay the same. would that be acceptable. if there is no deal to be reached we do know that harry reid will try to move forward on monday with the bill for those making $250,000 or below. so that's what we need to see how it will work there. there are types of sweeteners they can do. mitch mcconnell is a tough place and this is the underreported part of the story. he has to figure out a deal that gets through the senate and doesn't make john boehner look too bad in the house and there are a lot of conservatives in the house that don't want to do any type of deal that would raise taxes on anybody even though they'll go up on the entire country the first tax hike in 20 years after monday night. >> and one would also assume that mitch mcconnell would have to back a grant, he could face a primary fight if this thing -- >> you touched on one of the great sub plots of these entire negotiations is personal things that boehner and mcconnell have in these negotiations. obv
as part of the overall deal here on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series securities. so already, they are doing some maneuvering here financially to try to avoid that debtly limit. the treasury secretary says he doesn't know how much wiggle room they are going to have, given that all the fiscal cliff uncertainty is out there. >> eamon, on this idea that the house members get called back with 48 hours' notice. traders are looking for that headline if it happens almost that bleed out there or procedural moment where that is announced, so to speak? >> a good question. i have been in touch with republican leadership about that today. what they
't climbed back up the fiscal cliff and the republicans begin playing games with the debt ceiling, that would be fiscal suicide. we breakthrough the debt ceiling, we're talking depression. not a quick recession. it would be the single stupidest and most damaging act of sabotage in american history. and it cannot be allowed to happen. and here, hopefully to tell me why it will not happen is alice, who probably knows more about the budget and the budget deals than probably anybody else alive. she's appointed to president obama's national commission on fiscal responsibility and reform. and she's currently a senior fellow at the brookings instituti institution. thank you for being here tonight. >> happy to be here. >> you know much more about this than i do. you heard the intro, is there anything you want to add or correct anyway you see the fiscal cliff that you think people should know about? >> i thought your five points were good ones, especially the one about austerity, what we're talking about now is doing something really stupid as you said, and letting the wrong policies go into effect. t
on "meet the press" today when he said that republicans are to blame for this fiscal cliff stalemate. chris? >> kristin welker, thanks to you and thanks to nbc's kelly o'donnell on the hill as well. more ahead this hour as we continue to cover the ongoing negotiations on the hill. why a small deal now would set up a big fight later. more on secretary of state hillary clinton who has been hospitalize tonight with a blood clot. msnbc's live coverage continues after this. >>> time is running out for congress to reach a deal to avert the fiscal cliff crisis. at this point, the approaching deadline can be measured in hours, and expectations are being scaled down accordingly. >> i suggested to them, if they can't do a comprehensive package of smart deficit reduction, let's, at minimum, make sure people's taxes don't go up. >> the president appearing on "meet the press" this morning, pushing a narrow last-minute deal that would extend the bush tax cuts for the middle class but leave a hoet of other issues unresolved. if congress does reach a small deal on taxes before the fiscal cliff deadlines up
for the fiscal cliff stalemate and now, he is doubling down on that criticism. on "meet the press," president obama continued his public campaign to pressure congress. >> if congress doesn't act, then everybody's taxes go up. and for the average family that could mean a loss of $2,000 in income and the whole economy could slow down at a time went economy's actually starting to pick up. >> reporter: he, again, called on lawmakers to strike a deal or hold a vote on his plan, which would raise tax rates on wealthy americans, a major sticking point for republicans. >> the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. that seems to be their only overriding, unifying theme. >> reporter: after the interview, republican leaders accused the president of assigning blame instead of leading. >> when they say leadership falls on you, mr. president, you don't have a role here in breaking this impasse? you have had a tough go with congress. >> david, at a certain point, if folks can't say yes to good offers, then i also have an ob
, the vice president, and the treasury secretary trying to hammer out a fiscal cliff deal. the meeting began about an hour ago in what could be the final face-to-face meeting between the president and lawmakers of both parties before monday's midnight deadline. the house is scheduled to reconvene on sunday evening to do what we don't exactly know. so joining us live from the white house is nbc's kristin welker. kristin, welcome. >> reporter: thanks, karen. good afternoon. >> so what are we hearing about this meeting? i know it's still going on. any news? >> reporter: well, we do know this, a source familiar with these talks says that president obama is not going to be offering anything new during this afternoon's meeting. he's essentially going to be saying what he said at the white house last friday when he called on congress to put forth a package that would extend bush era tax cuts for those making $250,000 or less, extend unemployment insurance benefits, as well as stave off some of those deep spending cuts that are set to go into effect. the president is going to make the argument that
to avoid the fiscal cliff. president obama is pressing a basic proposal previously rejected by republicans. >> gregg: and in moscow, at least four people are dead, four more seriously injured after a passenger plane crashed while landing at one of russia's busiest airports. >> arthel: the u.n. envoy for syria somebodying a dire warning today in a meeting with russia's foreign minister saying the country's civil war could plunge the entire region into chaos unless something is done to solve the refugee crisis. >>> fox extreme weather alert. the northeast[5uzi facing yet ar powerful snow storm in less than a week. look at those picturing, adding up to a heap of trouble for holiday travelers on the roads and at the airports. the storm has already hit the ohio valley and now it is cranking up wind and snow as it moves to the northeast. meg baker of wtxf is live in north town, pen opinion -- pen opinion. it looks dark behind you. i'm trying to see how bad it is. >> it's been a winter wonderland for parts of greater philadelphia area. we're in north town where we see about three inches of snow t
on this fiscal cliff, i think a lot of republicans will move towards that $250,000 number. 24e may not like the president's deal or his approach, but both sides want to extend middle class tax rates. that's the key. both parties agree they want to extend to a certain threshold middle class tax rates. it's all about where that ball ends pup. >> so you think republicans will go for $250,000. >> i don't think the republican leadership will agree on $250,000, but you will see as many republicans move towards $250,000, maybe a scattering in the senate, a scattering in the house, because at the end of the day they want to extend as many rates as possible. >> but, richard, the real question here, they don't have to agree to $250,000 but they have to let a vote happen on $250,000. in of that case mitch mcconnell would have to agree not owe filibuster and speaker boehner would have to allow the bill to come to the floor. it's 9 process disagreements. >> i may not be the only person who is getting confused on the optimist/pessimist signals. let's listen to what we heard from a couple senators. first
republicans are looking past the fiscal cliff entirely and getting ready for the next fight. senator bob corker spoke moments ago on capitol hill. >> we immediate to do something in the 4 1/2 to $5 trillion range. so we can begin this year with this and in the rear view mirror and our economy really has the opportunity to take off. i think it is apparent that on these -- december 29 without anything that's bold in place, that's probably not going to happen. so, unfortunately, for america, the next line in the sand will be the debt ceiling. secretary geithner sent up a letter. it is probably around mid march action has to be taken. >> we are going to keep an eye on that. he will keep talking. we will bring you the highlights. first, though, this is going to be pretty hot. we have singer/songwriter, a man you are going to want to hear from whose biography could serve as a life lesson in and of itself. john forte joins us next on "now." >>> john forte grew up in brooklyn and made it to exeter academy on a violin scholarship and was a bram any nominated producer. he got a dream assignment fo
obvious. the prospect of reaching a deal to avoid the fiscal cliff before january 1st is very unlikely. that's putting it lightly. let's watch. >> there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. the speaker just has a few days left to change his mind, but i have to be very honest, mr. president, i don't know timewise how it can happen now. >> well, that was plain. this afternoon senate minority leader mitch mcconnell said he wasn't willing to offer the white house a blank check just because we're on the edge of the cliff. take a look. >> last night i told the president we'd be happy to look at whatever he proposes, but the truth is we're coming up against a hard deadline here, and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> well, actually it's not a blank check the president has been pushing. and this i
advocated his role in the fiscal cliff talks. he said it was up to the u.s. senate and the white house to do something. the sad reality is that boehner is leading a dysfunctional caucus with a vocal minority of tea partiers who can hold up the chantses for any deal. today harry reid accused boehner of caring more about his re-election as speaker than getting something done. take a listen. >> the american people i don't think understand the house of representatives is operating without the house of representatives. it's being operated with a dictatorship of the speaker. john baber seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> what is boehner's game plan? does he even have one? ryan grim is washington bureau chief for "the huffington post" and glenn johnston is politics editor for boston.com. i worked on the hill for years. you cover the hill and know it. that was a very personal shot from harry reid. is it accurate to say, open question, that speaker boehner is worried about staying speaker? >> yes. he's definitely -- i think he's not w
are going to get is to go over the fiscal cliff. taxes go up, then you go the republicans in position where they're getting the lower taxes. then patti murray. >> i just hope that people are paying attention that what we are seeing is basically the best world for politicians, they put off the and then everybody is going to pretend, oh, it's something happened. and nobody in the meantime is representing the interest of the american people. you know, we've got both parties in a position to negotiate this is what we want, this is what we elected and they're doing everything they can to not pay attention to that and to go to their separate corners and to be separate and to pretend that their way is not the only way. >> and it could result in people being called into, like, their supervisor's offices and their supervisor goes, i'm sorry, people are actually losing jobs because of this. >> but is there what the people voted for? there are some that think this is what the president voted for. >> how can you think that the american people didn't vote for this? >> let me get to these economical repo
think is going to happen now. if we get a small deal before we go over the fiscal cliff, either because harry reid and mitch mcconnell come to a deal in the senate, or because democrats jam the republicans in congress, it's mostly going to be about extending the bush tax cuts for the middle class, which will mean letting them expire for the rich. that will net somewhere around $600 billion in new tax revenue. the white house will pocket that. they will have got in three quarters of what they wanted last year, before even the negotiations had really kicked off. then we're going to go over the cliff and the pressure will mount quickly to strike another deal. republicans are still going to want entitlement cuts sop the white house will insist that the next deal include a dollar in tax increases for every dollar in spending cuts. so in that next deal, image republicans want $800 billion in spending cuts, a number of they've kicked around before. democrats will say they need that much in taxes, too. and because they've already raised rates, they got those middle class tax cuts extended, and
. real nut he's cutting it short, heading home later this week to bu heading hothe fiscal cliff as well. lor:lor: nancy, the white house ouses they have a much better chance dealing with reid as opposed to boehner? >> well, jeff, essentially they're hoping-- democrats are-- that republicans will consider piis plan even if they don't rike it the last train leaving the station so that even if this is not the package that republicans would have chosen, en,t they'll vote for it anyway vote fe otherwise taxes will go taxor everyone on january 1. >> glor: nancy cordes in hawaii. nancy, thank you. the fiscal cliff could mean severe cutbacks and layoffs in cliff couelds, like many medical research. that's forcing leaders to make mugh choices right now. here's wyatt andrews. he andreporter: professor kerri mowen, like hundreds of medical kerearchers, has already fallen off the fiscal cliff. her budget-- which relies on of federal grants-- is being cut by - % now as the n.i.h.-- the national institutes of health-- prepares for the possibility of utes of hes later. >> it's much bigger than just my
of the strategies that republicans could very well allow us to go off the fiscal cliff. a few weeks into january they decide to take the vote on lowering taxes. lowering the race so they can say you know what, we voted to lower taxes. >> that's something that has been talked about. a lot of people were concerned they wanted to go over the fiscal cliff. they wouldn't have to go for a tax increase. then however it becomes no longer extending the bush tax cuts, but the obama tax cuts. president obama is associated with cutting taxes. there is political liability for them as well. the reality is they have to get off of this no tax increase nonsense. i read in the "new york times" the other day, no republican member of congress voted for it since 1990. do you believe that? we had two or three wars since that time? a tragedy at 9/11 and we had hurricane sandy. we had hurricane katrina and despite all of these, they are unwilling to raise them to support and fund our government. what does it say about the dysfunctionality? >> we will have to leave it there. happy holidays to you. joining me now on the
negotiations over the fiscal cliff if we go over, republicans will be overwhelming share of the blame for it. republican doesn't mind tax increases and the republican position -- >> although there's still far a lot of the public that probably doesn't want their entitlements cut but they do express that they want washington to live within its means. they do express that they're not a huge fan of big government although they do like -- >> do like social security. >> how many of the races in november, congressional races are actually close? >> not that many. >> i mean this was an interesting dynamic. because there's really, i mean, you do have a very stark choice between -- in a lot of these districts. so, the conventional wisdom is a lot of republicans, a lot of tea party republicans are more worried about a primary slide than they are running against the democrats. >> absolutely. >> is that true? >> that's a problem that you have a house majority that believes and has as much of a mandate as the president. a lot of these guys won with a large share of the vote. some are in gerrymander distric
. >> there is incentive for republicans to cooperate on immigration. >> the sad thing for fiscal cliff is we'll be stuck in trench warfare for another couple of years. make sure you do it with a bush type comprehensive package. then you break the trench warfare. you get some from column "a" and column "b," and then maybe you can do the things you want to do. the second big issue, the same thing for a coalition is tax reform. >> but the question tom raises when we're talking about guns, there's a larger approach. does he have more of an opportunity on gun control if there's a big mental health aspect to it, if there's more to it, tom? >> well, that's what i think. i think it has to be holistic. the fact of the matter is i'm not an assault weapon fan of any kind, but i know people who go out to the target ranges and feel strongly that they have a second amendment right to fire them off as many times as they want to with 30-round magazines in them. so sportsmen, people who have weapons for hunting deer or big game or birds as i do and other people, have to become part of this debate as well, and say, look,
tax hike of this fiscal cliff negotiation is concerned. both the republicans and democrats seem very inclined to allow payroll taxes to go back up for people who earn $50,000 a year. that's $1,000 less they will take home next year, and that's real money. >> the perception is they're doing that to help those zillion nares and billionaires at the top. i mean, to add to the pain is why you may be facing the pain is for people that have no pain might have a little less pain even more. i mean, it's incredible. you know, yes, it's good to say, but saving for a rainy day is good for those not drenched with the rain. you talk about people in the rain that are going to suffer who has this whole sermon that we hear from washington of shared sacrifice when we didn't have shared prosperity. >> absolutely. but those people who actually are trying to save right now, we've got a whole enormous sector that has absolutely no rainy it day fund whatsoever. half of the americans are financially fragile. they couldn't come up with 2,000 if they needed to come up with it without selling belongings or tak
cliff talks. let me tell you what's going to happen today. speaker john boehner, the republican speaker, is going to try to pass what he calls his plan b, which would just simply address tax rates for those making a million dollars or more and that's it. >> john boehner walked away from the obama administration's third offer. a giant, giant compromise. so he didn't like it when they led. he didn't like the decision. he decided instead to chart his own course called plan b. plan b was supposed to show president obama that republicans had their own solution and instead of bothering with his offer they would just go ahead and pass their own plan without him. that was the idea, anyway. >> there is breaking news to report tonight out of washington. strange breaking news out of washington. within the last hour republican house speaker john boehner appears to have completely lost control of his own caucus. just about an hour ago john boehner was forced to pull his own plan off the floor because it turns out he did not have the votes from his own side to pass it. he didn't have enough republica
of this, are they not? >> i think everyone will stumble off the fiscal cliff if you will. we're going to have a patch. and yes, the republicans right now are not looking as good as they would hope to especially after the election. >> that's putting it lightly. >> it's a nice saturday afternoon. there's no reason -- but fact is that they do have one more card to hold. and that's the debt ceiling debate. and that's something where they could really be strong on spending cuts. if they have to give in and come up with this patch, everyone is going want this debt ceiling done before the president's state-of-the-union or hopefully before his inaugural speech. so the president's looking long term. he's looking legacy. and here's where republicans have a chance to cut a better deal than normally expected. >> democrats feel like they're in a pretty good position right now whatever deal comes out of it may be one they can stomach? >> i hate to pop the optimism bubble. but i think progressives should be a little bit concerned for a couch reasons. one is if you look at logistically how this has t
. >> there's something fascinating to all of this. ben bernanke gave this situation the name fiscal cliff which sounds very dramatic and very scary. but what it is is an act of congress that they actually voted for. 174 republicans voted for this law that would then take effect on january 1st with all these spending cuts in it, and democrats -- 95 democrats in the house voted for it, 74 votes for it in the united states senate, and now congress is afraid of actually going through something that it voted for to occur on january 1st because it all feels too dramatic to them. and so there's something very peculiar. the crisis that congress is facing is can they undo something that they voted for, and can they undo it by new year's eve? >> it's irony and paradox upon irony. remember the reason the fiscal cliff is supposed to be so dangerous and the reason why so many people in washington are worried about the fiscal cliff is it's too much deficit reduction too fast. so all of this takes place against a debate about how to reduce the budget deficit. that's why you get into this theater of the
points or so. being up at all with the fiscal cliff really looking like we're -- why wouldn't we head over. you go back to 39.6 on anybody 250 and above and ride in and lower taxes and be a hero. see republicans vote against that. >>> pre-christmas shopping rush wasn't much of a rush at all, at least not the type economists were expecting. a mastercard spending poll reports holiday sales were up .7 of a percent a year ago well below expectations. and we'll get a fresh read also on home prices when the monthly ca case-shiller report comes out at 9:00 eastern and congress thinks it will show 3.7% in prices for october from a year earlier, continued improvement. and netflix customers were hit by a partial holiday outage, some unable to access the service from clrm eve through thursday morning. they should have been spending time with the family around the hearth. >> a lot of people do it around the tv. >> unable to download any "walking dead" episodes during the holiday. netflix says the source of the problem was a server operated by amazon web services unit. ready to blame them. >> alwa
-called fiscal cliff, if we get to january 1st and no deal, i think there's a universal expectation that for 98% of the country, the income tax thing addressed within a week or two. neither democrats or republicans let that go completely. the amt is fixed basically every year. that's going to be fixed eventually. it looks like looking at the reports of the offer that obama is supposedly making this afternoon, going to tell republicans, yeah, you win on the estate tax if you take the offer and only thing talking about is the payroll tax. that's already obama apparently gave up on it two weeks ago and gone no matter what and only the refundables. >> yep. >> you're talking about hugely important to the working poor but for the vast majority of the country, it's almost ir el vant. we are just -- >> they aren't tax credits and what you fill out when you fill out your taxes which won't happen until 2014. if they're in effect, it costs the average family an extra $3,400 or so but in the first week, two weeks, actually, costs the average family about $40 and that's the payroll tax and if it's in effect
in response to what was going on in washington on the fiscal cliff. so they know this is angering people and they know this is affecting people's fortunes and livelihoods. but what they don't want to do is give up on deeply held principles. and a lot of these house members got elected in districts that don't look anything like the rest of america. they're very extreme, gerrymandered districts in many case s with ca ca ca cases, and their own personal careers depend much more on how they're perceived back at home. so they don't necessarily care that this is one of the most unpopular congresses in recent history and one of the most unproductive congresses in recent history. they want to stick by their principles. >> it's true. and a lot of them say, eamon, i've been elected to be a check on the president and that's what a lot of this is about. >> right. this is deeply held, fundamental belief on both sides and there's a huge chasm between the two sides on these issues. and somebody's going to be a loser here if there's a deal. somebody's going to be perceived as having gotten rolled and ne
at the bottom of your screen runs out. so where do fiscal cliff talks stand at this critical hour? nbc's kristen welker is on the north lawn and luke russert are both following developments this saturday afternoon. kristen, i'll start with you. any indication at this particular point as to what's happening behind closed doors this afternoon? >> reporter: well, i think most of the action is going on in the hill where staffers with majority leader reid and minority leader mcconnell are trying to conjure up some last-minute deal and this plan would not be the grand bargain that john boehner started initially working on. that plan would have dealt with tax reform and deficit reduction and this will be a much more scaled back version that will deal with the issue of taxes and that is still the big sticking point, taxes. of course, democrats and president obama have called for tax rates to increase on those making $250,000 or less. republicans have said that's way too low. so they're thinking about potentially compromising on a rate that would be $400,000 or $500,000, but some republicans are saying t
going into the close. down about 53 points on the dow industrials. >> we seem to be at a fiscal cliff stalemate but it is not keeping lawmakers on either side of the aisle quiet. when we come back we go live to washington for the latest and hear from one republican congressman on where he is willing to compromise at all. >> as last-minute christmas gift orders pour into online retailers which is better off, amazon or best buy? coming up we'll look at both stocks and which you may want in your stocking this year. >> if you're traveling any time this week listen up. we'll take you live to the world's busiest airport for a status check all coming up on this last hour of the trading day on christmas eve on "closing bell." [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you c
also referenced the impending fiscal cliff, which threatens to derail the economy if a compromise can't be reached by next week on those big unanswered issues. with both sides locked in the standoff, house republicans are calling on senate democrats to act first. democrats aren't budging much on their demands. they want to extend tax cuts and incomes below $250,000, prolong unemployment benefits, and delay those sweeping spending cuts. sam stein. >> yes. >> what happens in -- and it appears it will happen -- we go off the fiscal cliff for a few days? >> not much, is my understanding. kwb, over time, it will have much more of an impact, and it's unknown exactly what the market's psyche will do with respect to the government's inability to come together. with respect to the tax hikes, it won't be as bad as the rhetoric is suggesting early on. whether it's enough to actually get people to get back to the negotiating table -- because i agree with you, i think we're going to go over that deadline, that's the big question. what kind of political ramifications it will have. it's not as if yo
Search Results 0 to 31 of about 32 (some duplicates have been removed)